Free compliments
This query is : Resolved
11 August 2014
Please clarify the method of invoicing free compliments of a in house manufactured product which is also somtimes sold in open retail . The end customer wants to pay for main product value that is invoiced . My query is 1. can we put the value and charge ED /VAT & then show the value below after tax amounts as discount.or 2) Show that free compliment at Zero value . Kindly clarify with relevant Rules reference
Thanks
Regards
V K Vijayaraghavan
M 020556
Thanks
Regards
V K Vijayaraghavan
M 020556
11 August 2014
Cost of the final product can not be less than or equivalent from purchase of inputs if you are manufacturer. The transaction value of the final product can be zero but duty of excise will be payable at assessable value of the final product.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- House Property Reporting in ITR
- TDS Claim year
- Liable to deduct tds and 44ADA
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Refund of 20%pre-deposit paid for stay application
- TDS Challan Code
- Rent lease agreement
- Entries in AIS regarding sale of units and shares
- SGST balance is there in credit ledger how to adjust for cgst
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
